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Dec 25, 2012
12/12
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KTVU
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unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs. >> the partisan bickering has put the country on the brink of a financial crisis. >> it's the first time that i feel it's more likely that we will go over the cliff than not. and that if we allow that to happen it will be the most collosal consequential in a very long time. >> reporter: president obama is in hawaii for christmas. he says he will cut his vacation short to try to hammer out a deal with republicans. i'm andrew spencer reports. >>> fears over if fiscal cliff dampened hopes on the stock market. >>> on the heels of a public outcry, instagram has been hit with with their first civil lawsuit. the first action suit filed in criminal court friday stems from the company's proposal to change its terms of service. an instagramish user leveled claims against the company. instagram claims the complaint is without merit. >> thousands gather to celebrat
unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs. >> the partisan bickering has put the country on the brink of a financial crisis. >> it's the first time that i feel it's more likely that we will go over the cliff than not. and that if we allow that to happen it will be the most...
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230
Dec 24, 2012
12/12
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KTVU
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unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. >> raising taxes could still be red ink as far as i can see and it would hurt jobs. >> reporter: some long-time lawmakers are dismayed by the perpetual gridlock. >> i feel it's more likely we'll go over the cliff than not and if we allow that to happen, it will be the most colossal consequential act of irresponsible in a long time --er responsibility. >> reporter: president obama is in hawaii. he says he will cut his vacation short to try to hammer out a deal. the deadline a week away. >> if congress does not get anything done, then taxes will most likely go up for everyone. just about everyone on january 1st. unemployment benefits will also expire for many people. >>> international envoy working to end syria's civil war worries won't be able to help. one man said bashar assad discussed possible steps forward but has made little progress because both sides seem to be more interested in fighting. >>> authorities in india used violence to stop a week of rape protests. armed p
unemployment insurance for 2 million americans and lays the groundwork for further work on both growth and deficit reduction. >> raising taxes could still be red ink as far as i can see and it would hurt jobs. >> reporter: some long-time lawmakers are dismayed by the perpetual gridlock. >> i feel it's more likely we'll go over the cliff than not and if we allow that to happen, it will be the most colossal consequential act of irresponsible in a long time --er responsibility....
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532
Dec 29, 2012
12/12
by
KGO
tv
eye 532
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extends unemployment insurance and lays the ground works for future progress on more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities as long as they let it come to vote. >>> don't be surprised if you come across the jeiy checkpoint in the next couple of days. local law enforcement agencies have launched their annual crackdown a drunk drivers, indictment will are already in place. a bay area lawmaker is voting for tested solution to get repeat drunk drivers off the highways. a proposal that is being used in assisted states. >> the thinking behind the proposed crackdown is address what state senator jerry hill says the high rate of drunk drivers that don't modify their behavior. he cites statistics, most recent numbers available. >> there were 161,000 d.u.i. arrests and convictions in california. 27% of those were repeat offenders. >> a second indictment conviction would require a driver to buy and i install an emission intercept device. this is one showing how they work. a breath sample is taken and car will start only if the driv
extends unemployment insurance and lays the ground works for future progress on more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities as long as they let it come to vote. >>> don't be surprised if you come across the jeiy checkpoint in the next couple of days. local law enforcement agencies have launched their annual crackdown a drunk drivers, indictment will are already in place. a bay area lawmaker is voting for tested...
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254
Dec 22, 2012
12/12
by
KRON
tv
eye 254
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unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >>pam: house speaker john boehner failed to gain enough of his party's support for his "plan b". that proposal would have raised taxes only on those americans making more than one million dollars a year. without a deal, steep tax hikes and massive government spending cuts are set to kick in after january first. as the fiscal cliff countdown continues. house and senate members and president obama. have all recessed for the christmas holiday. >> the ninth circut court of appeals today blocked a california law which bans the controversial therapy. that aims to turn gay minors. straight. the three judge panel issued an emergency order, to put the law on hold until the court can hear further arguments. the law. which governor jerry brown signed in september, was set to take effect january first. it would make mental health professionals who engage in efforts to change a clients' sexual orientation. subject to discipline by state licensing boards. >> jacqueline: there rainfall co
unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >>pam: house speaker john boehner failed to gain enough of his party's support for his "plan b". that proposal would have raised taxes only on those americans making more than one million dollars a year. without a deal, steep tax hikes and massive government spending cuts are set to kick in after january first. as the fiscal cliff countdown continues. house and...
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186
Dec 29, 2012
12/12
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KGO
tv
eye 186
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extends unemployment americans look for a job and lays the ground work for more economic growth andç deficit reduction. i believe suchmy a proposal coud pass both house was bipartisan majorities as long as these leaders allow it to come to a vote. >> republican house speaker john boehner said he's willing to bend on raising taxes for the wealthiest americans to avoid the fiscal cliff. >>> don't be surprised if you come across a dui checkpoint in your neighborhood over the next few days. the highway patrol and other law enforcement agencies have their checkpoints in place. they will continue to be every night through new year's day. >>> a bay area law maker is proposing a new solution for getting repeat drunk drivers off the roadways. it's already being as utilized in other states. abc7 news reporter david louie has the details of the new proposal. >> the thinking behind the proposed crackdown of repeat offenders is to address what state senator jerry hill says is a high rate of drunk drivers who don't modify their behavior. he cites 2009 statistics, the most recent numbers available. >> ther
extends unemployment americans look for a job and lays the ground work for more economic growth andç deficit reduction. i believe suchmy a proposal coud pass both house was bipartisan majorities as long as these leaders allow it to come to a vote. >> republican house speaker john boehner said he's willing to bend on raising taxes for the wealthiest americans to avoid the fiscal cliff. >>> don't be surprised if you come across a dui checkpoint in your neighborhood over the next...
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Dec 29, 2012
12/12
by
LINKTV
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eye 154
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the 75% tax rate was part of the socialist government's platform for bringing down the budget deficit. he came to power in may promising to levy the tax on those earning more than a million euros per year, $1.3 million. the tax would affect about 1500 high earners. the constitutional council which oversees all legislation it said the new law was not fair because it applies to individuals and not households. the french prime minister said the government would introduce a new version of the law. >> we will implement measures to respect the commitment of the president of the republic. it will take into account the rejection of the constitutional council and apply the 2013 incomes and will have to be voted. >>> in macedonia, thousands of protesters gathered outside of the headquarters of the right wing ruling party, demanded the prime minister's resignation. the rally is a combination of days of protests that began last week when the opposition was ejected from parliament after a disagreement over next year's budget. we have this report from the capital. >> a march against the government
the 75% tax rate was part of the socialist government's platform for bringing down the budget deficit. he came to power in may promising to levy the tax on those earning more than a million euros per year, $1.3 million. the tax would affect about 1500 high earners. the constitutional council which oversees all legislation it said the new law was not fair because it applies to individuals and not households. the french prime minister said the government would introduce a new version of the law....
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Dec 30, 2012
12/12
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KBCW
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eye 117
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with the deficit ticking higher, patience is wearing thin. >> for those of us that invest in the stock market, it's disgusting to watch them jockey around with our money. we're affected every day. >> reporter: missing in all the last-minute negotiations is talk of the $1.2 million in mandatory spending cuts scheduled to go into effect tuesday. >>> if the government does go over the cliff, the impact on the aviation industry could be disastrous, and it could have a domino effect on the economy. the transportation security administration could lose about 7% of its budget, and more than 7,000 security officers. passengers could face longer waits at security. the faa could see its budget cut, and that means fewer planes, passengers, and cargo. >> everybody's pocketbook and livelihood is tied to the aviation system. the impact of it not being able to provide the service they do today would be devastating. >> if washington can't reach a compromise, are the economic recovery could stall. >>> a new york woman has been charged with murder as a hate crime for allegedly pushing a man in front of
with the deficit ticking higher, patience is wearing thin. >> for those of us that invest in the stock market, it's disgusting to watch them jockey around with our money. we're affected every day. >> reporter: missing in all the last-minute negotiations is talk of the $1.2 million in mandatory spending cuts scheduled to go into effect tuesday. >>> if the government does go over the cliff, the impact on the aviation industry could be disastrous, and it could have a domino...
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for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver across j.p. morgan so the indian folks are buying gold to crash the bank stores in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and financial terrorism then it's up to everyone in the world and the indians are leading the global charge on this i commend you india continue to build your gold hoard kill the banks turns off yeah and finally you know on this one of the reasons why they give for why they store twenty five thousand tons of gold is because there's the government doesn't take care of them there's no social security system but here we have a false illusion that the government is somehow going to take care of us even though all the evidence is there that they only take care
for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver across j.p. morgan so the indian folks are buying gold to crash the bank stores in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and...
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Dec 25, 2012
12/12
by
KICU
tv
eye 222
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unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs. >> the partisan bickering has put the country on the brink of a financial crisis. >> it's the first time that i feel it's more likely that we will go over the cliff than not. and that if we allow that to happen it will be the most collosal consequential in a very long time. >> reporter: president obama is in hawaii for christmas. he says he will cut his vacation short to try to hammer out a deal with republicans. i'm andrew spencer reports. >>> fears over if fiscal cliff dampened hopes on the stock market. >>> on the heels of a public outcry, instagram has been hit with with their first civil lawsuit. the first action suit filed in criminal court friday stems from the company's proposal to change its terms of service. an instagramish user leveled claims against the company. instagram claims the complaint is without merit. >> thousands gather to celebrat
unemployment insurance for 2 million americans and lays the ground work for further work on both growth and deficit reduction. >> the presidents solution of raising tax rates would still be ready for as far as the eye can see and it would hurt jobs. >> the partisan bickering has put the country on the brink of a financial crisis. >> it's the first time that i feel it's more likely that we will go over the cliff than not. and that if we allow that to happen it will be the most...
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257
Dec 22, 2012
12/12
by
KRON
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eye 257
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unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >> pam: this comes after house speaker john boehner failed to gain enough of his party's support. to his "plan b". his proposal would have raised taxes only on those americans making more than one million dollars a year. without a deal, steep tax hikes and massive government spending cuts are set to trigger after january first. as the fiscal cliff countdown continues. house and senate members have already recessed for the holidays. >> president obama will nominate senator john kerry as the next secretary of state. he made the announcement at the white house today. current secretary of state hillary clinton is stepping down in january.u-n ambassador susan rice was reportedly on the short list, but took herself off it, citing a "lengthy, disruptive, and costly" confirmation process after republicans took issue with her remarks on the deadly benghazi attack killed 4 americans in libya. >> and after the president's busy day. he and the first family are now heading for hawaii. t
unemployment insurance for 2 million americans and lays the groundwork for further work on both and deficit reduction. >> pam: this comes after house speaker john boehner failed to gain enough of his party's support. to his "plan b". his proposal would have raised taxes only on those americans making more than one million dollars a year. without a deal, steep tax hikes and massive government spending cuts are set to trigger after january first. as the fiscal cliff countdown...
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Dec 27, 2012
12/12
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CSPAN
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eye 112
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and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea that volcker had was a we will swap this. we will just turn it on its head. we will e
and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall...
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Dec 29, 2012
12/12
by
KOFY
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eye 124
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unemployment insurance is still available for two million people lay the ground work then for additional deficit reduction and economic growth steps to take in the new year that. >> bill ass the president calls the bare minimum isn't what many on capitol hill had hoped for. it pushes off until next year the larger problems of dealing with the debt ceiling and automatic spending cuts. study by george mason university found spending cut will result in two million jobs lost and 215 billion dollar drop in the nation gross domestic product. that's the value of all the goods and services produced. for california it means defense spending would be cut by half billion dollars. 12,000 children from low income family would look the access to head start programs, 2,000 fewer women not given screening for breast cervical cancer. domestic violence people would lose services. 8,000 tour california tested for hive and 2 96,000 students would see their title 1 benefit cut. employment assistance to 143 143,000 job seekers also cut. and uc health system could face 21 million in cuts from the loss of medicare reve
unemployment insurance is still available for two million people lay the ground work then for additional deficit reduction and economic growth steps to take in the new year that. >> bill ass the president calls the bare minimum isn't what many on capitol hill had hoped for. it pushes off until next year the larger problems of dealing with the debt ceiling and automatic spending cuts. study by george mason university found spending cut will result in two million jobs lost and 215 billion...
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Dec 30, 2012
12/12
by
KPIX
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the bill won't address the trillions in deficit reduction, sweeping reforms and federal spending, the u.s. tax code, or stop across-the-board spending cuts. in both parties' weekly addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay a little more. >> the president's tax hike would only fund the government for eight days. americans deserve to know what is the president proposing we do for the other 357 days of the year. >> reporter: both the house and the senate will be in session tomorrow. the senate is expected to take the lead and vote on the scaled- back bill then send it to the house. as many americans brace for the worst, patience is running out. >> they're playing games with people's lives. and i don't think that's correct. >> reporter: even if congress manages to break the gridlock in time, more trouble is just around the corner when the u.s. reaches the debt limit again in a few weeks. tara mergener for cbs news, washington. >>> well, a ne
the bill won't address the trillions in deficit reduction, sweeping reforms and federal spending, the u.s. tax code, or stop across-the-board spending cuts. in both parties' weekly addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay a little more. >> the president's tax hike would only fund the government for eight days. americans deserve to...
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171
Dec 28, 2012
12/12
by
LINKTV
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eye 171
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how is it we can be talking about tax cuts at the same time we have this massive deficit? we are getting the american people to believe we can cut taxes, increase military spending, and balance the budget. that is kind of what they talked about during the reagan administration and ended up with a huge hidden deficit, beginning to bloom once the administration's came in. we have to change our economy. we have to emphasize job creation. and then investors can come back in and you can start to see consumer confidence building. but right now we are limping as a nation. our politics are being translated into some kind of punch and judy show between democrats and republicans. we don't need that. we have got to help real people. we have to keep people in their homes, did not only unemployment benefits passed the people back to work. why are we not emphasizing that? that is why this whole debate about the fiscal cliff, as steve baker says, has elements that are commerical. >> congressman, in your response, you link the war machine to the battles at home over domestic spending. cou
how is it we can be talking about tax cuts at the same time we have this massive deficit? we are getting the american people to believe we can cut taxes, increase military spending, and balance the budget. that is kind of what they talked about during the reagan administration and ended up with a huge hidden deficit, beginning to bloom once the administration's came in. we have to change our economy. we have to emphasize job creation. and then investors can come back in and you can start to see...
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Dec 23, 2012
12/12
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CNNW
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eye 171
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to reduce the deficit more than any other deficit reduction package. >> mohammed aladarin is the ceo of pimco and mark zandy is a chief moist at moody's analytics and joining me in studio is christine romans. the gdp for the u.s. grew at 3.1% over the summer. that's more than double the rate of the previous quarter. you can see the chart, it's been choppy, but it looks like we're going in the right direction. america's economy is gaining pace, doing better than expected. and we've been saying the 2013 could be the year of a real economic renaissance in the united states or at least the beginning of one. talk to me about the consequences to our prosperity if washington doesn't reach a deal. >> the consequences are not good. so what the numbers are telling you is that the private sector is healing. and if the private sector were left to its own devices, it would heal faster. unfortunately, washington is getting in the way. and what we find out this week, ali, is that the problem is not just a lack of trust between democrats and republicans, we found out that the republicans themselves
to reduce the deficit more than any other deficit reduction package. >> mohammed aladarin is the ceo of pimco and mark zandy is a chief moist at moody's analytics and joining me in studio is christine romans. the gdp for the u.s. grew at 3.1% over the summer. that's more than double the rate of the previous quarter. you can see the chart, it's been choppy, but it looks like we're going in the right direction. america's economy is gaining pace, doing better than expected. and we've been...
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429
Dec 29, 2012
12/12
by
KQED
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eye 429
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presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes, there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs, cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the fiscal cliff deadline lapse an
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >>...
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Dec 28, 2012
12/12
by
WETA
tv
eye 114
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presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes, there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs, cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the fiscal cliff deadline lapse an
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >>...
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91
Dec 27, 2012
12/12
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CSPAN
tv
eye 91
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated -- encapsulated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. wh
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were...
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251
Dec 22, 2012
12/12
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KGO
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eye 251
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the republican holiday wish given by john boehner is that both parties can come together and form a deficit cutting agreement that protects families and small businesses. >>> if you had a chance to talk to president obama, what would you ask him? students from schools around the bay area are writing him letters sharing hopes for the future. education reporter lyanne melendez tells us what is on their mind. >> the letters written to the president start out with a simple salutation. >> dear president obama my name is.... >> what follows is the example of a child's vase curiosity. do you wear a suit every day? and questions even adults would like to ask. >> how do you feel about romney losing? >> the fivd graders in san francisco are participating in a program called mail to the chief organized by handwriting without tears. the idea is to encourage students to get interested in government. >> anything that you want to write is fine, okay? >> this year the students have been particularly interested in what has been happening in their communities and around the world and they are not holding bac
the republican holiday wish given by john boehner is that both parties can come together and form a deficit cutting agreement that protects families and small businesses. >>> if you had a chance to talk to president obama, what would you ask him? students from schools around the bay area are writing him letters sharing hopes for the future. education reporter lyanne melendez tells us what is on their mind. >> the letters written to the president start out with a simple...
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150
Dec 29, 2012
12/12
by
KGO
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eye 150
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hikes and extends unemployment americans look for a job and lays progress for more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities as long as these leaders allow it to come to a vote. >> republican house speaker john boehner said he's willing to bend on raising tax force the wealthiest americans to avoid the physical cliff. >>> don't be surprised if you come across a dui checkpoint in your neighborhood over the next few days. the highway patrol and other law enforcement agencies have their checkpoints in place. >>> a bay area law maker is proposing a new solution for getting repeat drunk drivers off the roadways. it's already being as youd in other states. abc7 news reporter david louie has the details of the new proposal. >> the thinking behind the proposed crack down of repeat offenders is to address what state senator jerry hill says is a high rate of drunk drivers who don't modify their behavior. he cites twine statistics, the most recent numbers available. >> there were 161,000, 161,000dui arrests and convictions in califo
hikes and extends unemployment americans look for a job and lays progress for more economic growth and deficit reduction. i believe such a proposal could pass both houses with bipartisan majorities as long as these leaders allow it to come to a vote. >> republican house speaker john boehner said he's willing to bend on raising tax force the wealthiest americans to avoid the physical cliff. >>> don't be surprised if you come across a dui checkpoint in your neighborhood over the...
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122
Dec 22, 2012
12/12
by
CNNW
tv
eye 122
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tax hikes on the rich alone will not put all that much of a accident in the national deficit. you could take away every dollar from the top 1% earners and it wouldn't fill the gap. we heard earlier in the week about chained cpi, a suggestion john boehner made for his proposal. christine? >> chain cpi would change the way the federal government calculates inflation, which could stave federal government $300 billion over the next decade if implemented. the consumer price index measures how much they go up by tracking a basket of goods that americans typically buy. this is important because it's used to calculate cost of living adjustments and social security. checks pay a little more each year in line with inflation as calculated by that consumer price index. now, one potential flaw in the system, consumer price index assumes people don't change their basket, if, say, the price of meat goes up. in other words, they don't switch from meat to chicken because the price of beef has gone up. they don't switch from, say, arugula to, i don't know, iceberg lettuce. it doesn't account fo
tax hikes on the rich alone will not put all that much of a accident in the national deficit. you could take away every dollar from the top 1% earners and it wouldn't fill the gap. we heard earlier in the week about chained cpi, a suggestion john boehner made for his proposal. christine? >> chain cpi would change the way the federal government calculates inflation, which could stave federal government $300 billion over the next decade if implemented. the consumer price index measures how...
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118
Dec 28, 2012
12/12
by
CSPAN
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eye 118
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they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held the growth flat. then we cut it by almost 5%. this time around, we let it grow a little bit higher. protect the dome so it did not fall in.
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would...
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Dec 29, 2012
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but 90 million is not that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says you got to start somewhere, especially when washington won't. the partisan fighting has bothered him since? 1992, when he first wrote his congressman, suggesting a formula to put down the debt. the veteran says he is giving back to a country that has given him so much. a sense of duty, that is infectious. his daughter is now collecting cans at work. his grandson drives garcia to friends' houses, just to collect more cans. garcia knows that his monthly money orders won't avert the fiscal cliff. but they say that is not the message garcia is sending to congress. >> in order to really solve the $16 trillion national debt you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end. and it might as well be here. kyung lah, cnn, san antonio, texas. >>> back in a moment. it's lots of things. all waking up. connecting to the
but 90 million is not that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says you got to start somewhere, especially when washington won't. the partisan fighting has bothered him since? 1992, when he first wrote his congressman, suggesting a formula to put down the debt. the veteran says he is giving back to a country that has given him so much. a sense of duty, that is...
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Dec 23, 2012
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meanwhile, useful from my perspective to lock in some additional revenue to help on the medium term deficit. >> people on the left this whole idea of comprehensive tax reform unleashing economic growth is nonsense. is that -- >> most of the evidence suggests that there is some benefit from a more sensible tax code. i think in 2013 itself, we have larger problems in the sense of inadequate demand, but i think it's hard to argue that we wouldn't do somewhat better with a more sensible tax code. >> one piece that you've been pushing is a consumption tax as part of this comprehensive tax deal. you know that a lot of economists think it is a good idea. we should tax consumption and get the savings rate up. it seems politically dead on arrival. i think paul voker mentioned it and in response 96 senators passed a sense of the senate resolution that this was an evil idea. >> here's the way i look at it. we're not going to get a consumption tax in this discussion this year and not next spring either. the reason it's inevitable, on the republican side, it is the way to slowly do tax reform. peter's r
meanwhile, useful from my perspective to lock in some additional revenue to help on the medium term deficit. >> people on the left this whole idea of comprehensive tax reform unleashing economic growth is nonsense. is that -- >> most of the evidence suggests that there is some benefit from a more sensible tax code. i think in 2013 itself, we have larger problems in the sense of inadequate demand, but i think it's hard to argue that we wouldn't do somewhat better with a more sensible...
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Dec 29, 2012
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democrats and republicans agreed to these drastic cuts last year, to force both parties to the table on deficit reduction. if they can agree by monday at midnight, the following cut take effects. over the next nine years, the u.s. defense budget would be reduced by $455 billion. domestic programs would be slashed by 464 billion. 1,000 government programs face potential cuts, including three that directly impact air travel. john bentley has the story. >> reporter: long waits at airport security are nothing new. but if the u.s. government goes over the fiscal cliff, they could get even longer. according to one congressional analysis, the transportation security administration would lose more than $640 million in funding, roughly 7% of out budget. t.s.a. with would also lose over 7,000 security officers. safety would not be compromised. the passenger misery would increase. >> it could be a severe impact on the traveling public. instead of maybe one hour, you may be there two or three hours before. >> reporter: long lines would be the least of the problems. under the mandatory cuts of the fiscal cl
democrats and republicans agreed to these drastic cuts last year, to force both parties to the table on deficit reduction. if they can agree by monday at midnight, the following cut take effects. over the next nine years, the u.s. defense budget would be reduced by $455 billion. domestic programs would be slashed by 464 billion. 1,000 government programs face potential cuts, including three that directly impact air travel. john bentley has the story. >> reporter: long waits at airport...
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. >> kelly: one final question, if i may, what kind of deficit reduction would this tax be able to provide for the people of france, if you incur 75% tax because you just happen to be a multi-millionaire? >> the thing about france is we're not the united states. we don't have that many multi-millionaires. it was actually really only going to affect 1500 people across the country. so it wasn't going to be very much. it was probably, if you're lucky, at best, $1 million. >> kelly: katherine field, thank you so much for joining us via phone and telling us about the deal in france. thank you. >> heather: back at home, hundreds of firefighters from across the u.s. and canada heading to western new york for second day for the wake and funeral services for these two fallen heros. the two volunteer firefighters were killed in a christmas eve ambush when they responded to a house fire and they were gunned down by 62-year-old william spangler. police also arresting 24-year-old dawn nguyen for illegally purchasing the gun that spangler used in that rampage. now the community of webster is stepping up
. >> kelly: one final question, if i may, what kind of deficit reduction would this tax be able to provide for the people of france, if you incur 75% tax because you just happen to be a multi-millionaire? >> the thing about france is we're not the united states. we don't have that many multi-millionaires. it was actually really only going to affect 1500 people across the country. so it wasn't going to be very much. it was probably, if you're lucky, at best, $1 million. >>...
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Dec 29, 2012
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last-minute process calls into question washington's ability to deal with the hard issues of tax reform and deficit reduction. >> the prospects for the economy are incredibly dim until we put in place a bigger deal, tackle these challenges, and put some certainty into the economy and boost confidence. >> reporter: meanwhile, americans watched with worry and frustration. >> i think they're all failing us a great deal and i'm so sick and tired of them fighting. >> the equivalent of worried about your mortgage after you're already homeless. so it's, like i said, sad. they have a job to do and they're not doing it. >> reporter: now, with public pressure mounting, the house and senate are expected to be back in session tomorrow, ready for a vote that could impact the economy for better or for worse. kate? >> kristen welker at the white house. nbc's moderator of "meet the press" david gregory joins me now. as we've said, david, you sat down with president obama this afternoon for an exclusive interview that airs tomorrow morning, but give us a hint. is he optimistic? do you come away with any hope that w
last-minute process calls into question washington's ability to deal with the hard issues of tax reform and deficit reduction. >> the prospects for the economy are incredibly dim until we put in place a bigger deal, tackle these challenges, and put some certainty into the economy and boost confidence. >> reporter: meanwhile, americans watched with worry and frustration. >> i think they're all failing us a great deal and i'm so sick and tired of them fighting. >> the...
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Dec 28, 2012
12/12
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they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held the growth flat. then we cut it by almost 5%. this time around, we let it grow a little bit higher. protect the dome so it did not fall in.
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would...
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Dec 28, 2012
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the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the other hand, you have unit labor costs which have been diminishing quite a lot and the exports of spain are very dynamic today. so it also demonstrates that hard work is being done. it's difficult. it's tough, but going in the right direction. i trust that the global observers are observing progressively and the adjustment is proceed. in spain and in all the countries that are under adjustment. >> now, lonmin's ceo ian farmer is stepping down while being treated for a serious illness after being first admitted to hospital back in august. the south african miner says it's already appointed an executiv
the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the...
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insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but first, the other news of the day. here's kwame holman. >> holman: the u.s. economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the longshoremen's union agreed today to extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling as concern mounts that washington will fail to get
insurance is still available for 2 million people, and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but...
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still the crushing deficit is so they still have to do some big things let alone optimism gration reform and other stuff. it's a little like tarp, remember the hse voted no then the markets just could lapsd. i think we might see something like that in the first week in january and then a focus. but they will still be with cooperation. >> we have already seen an emotion of public confidence and a slowdown of economic activity. so i mean it's like this has already built in. i agree with david that the tarp analogy is a valid one but i think tarp was so dramatic and immediate. this is almost going to slow change. it is like it's built in. >> havinging what imact-- impact on the public wince think a loss of consumer certainty, consumer confidence and comes back to not to sound like good government 101 but come back to the fact confidence in the public sector. you want to do something bim gration, about climate change. in order to do that, there has to be a public reservoir of public confidence that we can act effectively. the government can be an instrument of change for the better. if the g
still the crushing deficit is so they still have to do some big things let alone optimism gration reform and other stuff. it's a little like tarp, remember the hse voted no then the markets just could lapsd. i think we might see something like that in the first week in january and then a focus. but they will still be with cooperation. >> we have already seen an emotion of public confidence and a slowdown of economic activity. so i mean it's like this has already built in. i agree with...
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Dec 26, 2012
12/12
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that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style growth rates of 2% per year. is not the worst of jamee have been been in the post world war era. -- this is not the worst jam. reagan had the economy growing at 6%. whereas mr. obama, to%. the downside has been the notion of accepting a much slower broken. longer-term, the pyramid of our society is getting more like a column, because we're having more and more older people -- people are living older and we can raise the retirement age. even with that we will have a larger elderly population to take care of. 2% growth becomes very di
that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style...
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Dec 24, 2012
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employment for 2 million americans, protect middle america the middle income americans and also work on deficit reduction. >> the president solution would still leave red ink as far as the eye could see. and difficult for jobs. >> this is it difficult for the brink of perpetual gridlock. >> this is likely that we will go over the fiscal cliff and not and if we allow that to happen. would be the most concord consequential, terrible act of gridlock. >> president obama is in hawaii but could possibly cut his vacation short to hammer out a deal. >> thousands of nurses will walk off the job today at nine bay area hospitals. nurses with sutter health's alta bates summit medical center are asking for negotiated labor contracts care protections. such as staffing levels, health benefits, and sick days. strikers say hospital officials want to reduce the number of paid sick days for nurses and technicians, while eliminating health care coverage for those who work fewer than 30 hours a week. >> analysts say many shoppers haven't been in the holiday spirit when it comes to spending money. the four-day black
employment for 2 million americans, protect middle america the middle income americans and also work on deficit reduction. >> the president solution would still leave red ink as far as the eye could see. and difficult for jobs. >> this is it difficult for the brink of perpetual gridlock. >> this is likely that we will go over the fiscal cliff and not and if we allow that to happen. would be the most concord consequential, terrible act of gridlock. >> president obama is...
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Dec 28, 2012
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insurance is still available for 2 million people and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but first, the other news of the day. here's kwame holman. >> holman: the u.s. economy has dodged a potentially crippling strike at ports up and down the east coast and gulf coast at least, for now. the longshoremen's union agreed today to extend its existing contract by another month. that word came after the union and shipping lines worked out a deal on royalty payments for unloading containers. the contract extension gives the two sides time to resolve their remaining issues. wall street finished the week with its fifth straight losing session. stocks have been falling as concern mounts that washington will fail to get
insurance is still available for 2 million people and that lays the groundwork then for additional deficit reduction and economic growth steps that we can take in the new year. >> all of this still developing. and we will have more on all of it with mark shields and david brooks later in the program. >> also ahead >> warner: also ahead, between now and then; protesting a gang rape in india; mass producing high quality education and remembering general norman schwarzkopf. but...
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presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the fiscal cliff deadline lapse and
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >>...
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Dec 29, 2012
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a lot of people are worried it's going to decrease the deficit. so a lot of complicated issues and political issues. and we hear it all of the time. >> let's talk about lake superior state university and how this list compiling all began. >> it was a bet new year's eve, 1976. >> long ago. >> yep. and they discussed how many words and phrases are overused too often. and the originator of this list back in 1976 went back and drew up a list of five words to submit to upi, united press international. and the whole thing took off from there, and we take nominations from all over the world. whatever floats to the top gets to our list. >> and is i was going to ask how that happened. people can, what, make suggestions, somehow contact your university and say here's a word i want banished. >> lssubanished. do a search and it will get you right to our page. and there is still time to vote, by the way. the list comes out on monday at 12:01. if we get anymore packed ballot boxes, we'll include those. >> do that right now. a few of the words banished for 2012,
a lot of people are worried it's going to decrease the deficit. so a lot of complicated issues and political issues. and we hear it all of the time. >> let's talk about lake superior state university and how this list compiling all began. >> it was a bet new year's eve, 1976. >> long ago. >> yep. and they discussed how many words and phrases are overused too often. and the originator of this list back in 1976 went back and drew up a list of five words to submit to upi,...
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things come to a head in the summer of 2011, republicans demand the government reduce the deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose the ability to borrow money. both democrats and republicans deploy scorch earth tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. but in a last-minute compromise, both sides agree to $1 trillion in spending cuts up front and another $1.2 trillion in cuts to be decided by a special congressional super committee. but a poison pill was attached. if the super committee can't reach a deal, automatic across the board cuts known as the sequester would go into effect starting january 2013. at the exact moment when those bush tax cuts extended for two years, if you remember, would expire. so the point is, we could've all seen this coming and some of us did. we yelled at the top of our lungs by it, but we were drowned out by the election. it seems common sense and good governance often get drown out by seemingly endless and continuele
things come to a head in the summer of 2011, republicans demand the government reduce the deficit as a condition for raising the nation's debt ceiling. without a deal, the u.s. would lose the ability to borrow money. both democrats and republicans deploy scorch earth tactics that nearly shut down the government and ultimately cost america its aaa credit rating for the first time in history. but in a last-minute compromise, both sides agree to $1 trillion in spending cuts up front and another...